Assistant Leasing Manager

3 weeks ago

Muscat, Muscat, Oman Lulu Shopping Malls Muscat LLC Full time

1.JOB SUMMARY

To assist in the executions of the policies and procedures regarding the day to day functions of the commercial leasing department as determined by the Head of Leasing and General Manager of the nominated assets. The role would encompass acquiring tenants to lease available spaces in Oman Avenues Mall or other corporate retail assets of the Lulu shopping malls muscat LLC.

The following are the broad level job responsibilities of this role:

  1. Marketing of Properties / Assets
  2. Leasing of Assets
  3. Lease Management
  4. Liaison & Registration with Interested Parties
  5. Documentation & Reporting

2.PRIMARY Responsibilities

  1. Marketing of Properties / Assets
    1. To continually be on a lookout for new tenants.
    2. Creation and maintenance of tenant's database. Regularly sharing this tenant's database with the OAM team and management members.
    3. Develop a client base that generates a sustainable number of referrals and leads that produces income for the team and company.
    4. Provide existing and prospective clients with current industry and market specific information as it relates to their business and investments.
    5. Assist in the marketing of respective/assigned property.
    6. Ensure accurate and timely updates to all collateral, websites etc. as necessary.
    7. Ensure continual communications with existing tenant database to discuss local expansion, relocation, and prospective market expansion.
    8. Compile, update, and maintain a network of local, regional, and international brokers and send lease updates, flyers etc., as appropriate.
    9. Attend conventions, trade shows, etc. (including Middle East Council of Shopping Center and retailers - MECSCR) to meet with regional and national tenants to prospect and stay abreast of current market trends, specifically as it relates to leasing.
    10. Ensure continuity & retention of existing tenancy and maintain good client relationships while promoting other company services related to sales, development, and management.
  2. Leasing of Assets with given parameters
    1. Budgeting and forecasting of lease income.
    2. Be part of regular reviews of the budgeted income with the OAM Management Team.
    3. Ensure occupancy levels in the OAM properties.
    4. Ensure lease income is in line with the budgeted lease values.
    5. Responsible for leasing function for specific retail assets while developing a broad and qualified clientele base.
    6. Drafting of leasing forms including but not limited to Letters of Intent (LoI), Leases, Tenancy Agreements and other related Leasing Documents.
    7. Draft and Prepare responses to RFPs / SFO's in an efficient, professional and timely manner.
    8. Prospect for and negotiate exclusive:
    9. Tenant representation agreements with local, regional, and international tenants.
    10. Landlord representation agreements with property owners and landlords.
    11. Analyze prospective lease terms and financial information.
    12. Interface with clients and prospects to successfully define the parameters, lease terms and limitations surrounding a possible lease, listing and related agreements.
    13. Attend weekly leasing department staff meetings to discuss prospects, properties and share ideas with the Team.
    14. Conduct local and sub-market analysis for existing inventory and competitive properties to ensure accurate marketing and competitive pricing with regards to market rent, tenant improvements, rental abatement, etc.
  3. Lease administration
    1. Issue lease offer letters to prospective and current tenants on time.
    2. Provision of lease letters to initiate the lease cycle.
    3. Ensure reservation deposits are collected as per mutual agreement with tenants once the lease letters have been provided.
    4. Once the reservation deposits are received, prepare lease agreements.
    5. Upon signing off of the lease agreements, collection of payments due in advance as per mutual agreement with the tenants.
    6. Manage the ERP software for the management of leases (YARDI).
  4. Liaison & Registration with Interested Parties
    1. Liaise with OAM Human Resource Department and ensure timely registration of the lease agreement with the government bodies in order to avoid penalties.
  5. Documentation & Reporting
    1. Ensure that timely communication is performed with Tenants, Landlords and Clients through monthly emails, phone calls and hard copy deliverables.
    2. Collaborate with GM- Business Development & Leasing to forecast quarterly, semi-annual, and annual leasing goals for department and agents.
    3. Compile and present monthly leasing activity reports for managed and non-managed properties for owners and landlords or as directed by GM- Business Development & Leasing.
  6. Job Authorities
    1. Budgeting & forecasting of leasing and revenues.
    2. Liaise with the Legal Team to sort any legal issues with tenants.

Skills

Education Criteria:

  • Bachelor's Degree from a reputed university in any discipline

Skills:

  • Communications (Oral and Written)
  • Negotiations
  • Decision Making
  • Strategic Planning
  • Project Management
  • Budgeting and Forecasting
  • Self-Starter / Self-Motivated
  • Team Player
  • Team Management
  • Ability to train team on leasing processes
  • MS Office (Word, Excel, PowerPoint, Outlook)
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